IMF Warns Britain to Dump ‘Free’ Healthcare to Avoid Financial Crisis
-By Warner Todd Huston
Britain’s vaunted nationalized healthcare system is bankrupting the nation and the International Monetary Fund (IMF) is warning that if the UK doesn’t start charging for healthcare and raise the retirement age above 65 the country will not be able to get out from under the widening fiscal disaster.
The IMF is telling the British government that she must instigate a wholesale revamping of its pensioner and healthcare system to “help keep a lid on the debt.”
Treasury officials admitted recently that the deficit is expected to rise “£200billion this year – £25billion more than the Chancellor predicted in the Budget.”
That is the equivalent of £3,257 of debt for every man, woman and child, or £9,457 for the average family.
It should be pointed out that Britain’s deficit is no where near the Obama deficit in the U.S. and his $1 trillion debt doesn’t even count any nationalized healthcare plan like the one Congress is desperately trying to pass.
(Cross posted at HealthcareHorseRace.com.)
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Posted by Warner Todd Huston on October 2, 2009 2:27 pm
» Filed Under Anti-Capitalism, Barack Obama, Communism, Economy, Government corruption, Government malfeasance/misfeasance, Healthcare, Liberal World, News, Social Engineering, Socialism, liberalism
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